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  • Posted by Lucky 4 years, 4 months ago
    'Spoken for truth'

    To elaborate on one point- to be a regulator implies a belief in regulation.
    No conscious bias is required for a regulator to go to existing sources of expertize and mainstream economists who think likewise.

    In my State a government owned power company is to be sold.
    The existing arrangement is not socialism but state capitalism.
    When sold and subject to a regulator, the new entity will not be capitalist or part of a free market but owned by investors and still controlled by government. Little will change, it does free up money for the State to pay off debt, or more likely to squander elsewhere.
    So yes I agree, regulated industry is not socialism, but it is still controlled and run by and for the usual players- 'same difference' as we say here. These are the chattering classes, progressivistas, existing big businesses, and big unions. This is all those who have the skill to talk well about the public interest but have little skill in doing the job.
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  • Posted by rbroberg 4 years, 4 months ago
    Good points! The business lobbyist and business regulator relationship is one of the most pernicious of our time. Altruistic fluff plus cocaine plus prostitutes equals approval per the business strategy. And by the time everyone realizes the product sucks, the lobbyist and regulator are on to the next gig. Sickening!
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